From an LNG seller’s perspective, India is one of the few beacons of hope. The vast country, which has a very price sensitive approach to buying liquid gas, is taking more cargoes both on a contract and spot basis. A recent move by the Indian government to change the pricing formula of domestically-produced gas from […]
Energy Connections
Gas industry struggles to prepare for changing rules amid tariffs storm
Knowing how to prepare for going outside during winter months feels, at times, impossible to predict in London. The weather behaves erratically from week to week – mild and rainy; brisk and sunny; bitter and cold; snowy and grey. At times, it has seemed that shippers, transmission system operators (TSOs) and regulators throughout the bloc […]
In or out? Why those steering Europe’s single energy market might pay attention to the UK’s EU referendum debate
Being a UK-based company, the news schedule my colleagues and I at ICIS are exposed to away from the work place has already been dominated for weeks by the UK’s EU referendum, despite the vote being four months away. The issue at the heart of this debate strikes a chord with the key issue that […]
ACER looks to form group on energy derivatives
EU regulators agency ACER is looking for people to form an ad-hoc expert group on energy commodity derivatives. This is hardly surprising given how difficult defining energy derivatives has become, and the even harder part of understanding which EU legislation an energy derivative or physical forward falls under. The group will advise the agency on […]
UK urged to extend max jail term for market abuse to 10 years
The Bank of England has suggested that the max jail term for anyone guilty of market abuse be extended to 10 years from the current 7, in its Fair and Effective Markets Review out on Tuesday evening. If the UK government follows through with the suggestion, this means anyone guilty of insider trading or market […]
Negotiation set to shape key energy regulation
The next few weeks and carrying through July are likely to result in some important regulations for the energy industry being shaped, although we are unlikely to see the final versions emerge until the autumn. The much-discussed topic of what is a power and gas forward that must be physically delivered rumbles on. The European […]
EMIR review launched
The European Commission has launched a review of the European Markets and Infrastructure Regulation, better known as EMIR. Details can be found here.
Proposal could shine bigger light on EU policy development
The European Commission has said in the future it will look to make draft texts of its implemented and delegated acts for key EU financial publicly available. First vice-president Frans Timmerman has made the proposal as part of his better regulation agenda. The proposal is at the early stages, with the commission hoping to conclude […]
ESMA makes interesting point on physical forwards
A contact has pointed out an interesting line in the guidelines published on physical power and gas forwards for dealing with current EU financial regulation. The European Markets and Securities Authority (ESMA) has tried to clear up what is a derivative and what is a physical forward under the first version of the Markets in […]
Potential Danish REMIT breach referred to public prosecutor
Some interesting information emerged on Thursday, when the Danish regulator said it has asked the Danish Prosecution Service to start a criminal investigation into whether a company has manipulated the wholesale gas market. If the case leads to a prosecution it could be quite significant. I do not know of any convictions for REMIT breaches that […]
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